Section 18(4) in Gujarat Educational Innovations Commission Act, 2009
(4)All moneys belonging to the fund of the Commission shall be kept in any corresponding new Bank specified in column 2 of the First Schedule to the Banking Companies (Acquisition and Transfer of Undertakings) Act, 1970, (5 of 1970) and in column 2 of the First Schedule to the Banking Companies (Acquisition and Transfer of Undertakings) Act, 1980, (40 of 1980) and approved by the State Government for the purpose or invested in securities authorised by the Trusts Act, 1882, (2 of 1982) at the discretion of the Commission.
